The members acknowledge their responsibilities for:

(a) ensuring that the LLP keeps accounting records which comply with Section 386 and 387 of the Companies Act 2006 as applied by the Limited Liability Partnerships Regulations 2008 as modified by the Limited Liability Partnerships, Partnerships and Groups Regulations 2018.

(b) preparing financial statements which give a true and fair view of the state of affairs of the LLP as at the end of each financial period and of its profit or loss for the financial period in accordance with the requirements of section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 as applied by the Limited Liability Partnerships Regulations 2008 as modified by the Limited Liability Partnerships, Partnerships and Groups Regulations 2018 relating to financial statements, so far applicable to the LLP.

 

These financial statements have been prepared and delivered in accordance with the special provisions within Part 15 of the Companies Act 2006, as applied to small limited liability partnerships by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, and the option not to file a profit and loss account has been taken.

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' including Section 1A and the Companies Act 2006 and in accordance with the Statement of Recommended Practice 'Accounting for Limited Liability Partnerships' issued in May 2024. There are no material departures from FRS102.

The limited liability partnership is incorporated in England and Wales under the Limited Liability Partnership Act 2000.

The address of the registered office is:
3rd Floor Westgate House
Market Street
Warwick
United Kingdom
CV34 4DH

The limited liability partnership was dormant in the prior period. On the 2nd January 2025, the trade and assets (other than intellectual property) of Moore & Tibbits Limited were purchased, signifying the commencement of trade of M&T Legal Services LLP. The consideration for the net assets transferred was a combination of an intercompany loan and members' capital. The assets and liabilities have been brought into these accounts at their book values.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value, in accordance with the Financial Reporting Standard 102 (FRS 102) issued by the Financial Reporting Council and the requirements of the Statement of Recommended Practice Accounting by Limited Liability Partnerships (issued May 2024).

The functional currency of M&T Legal Services LLP is considered to be pounds sterling because that is the currency of the primary economic environment in which the limited liability partnership operates.

Revenue represents the value of services rendered during the year (excluding VAT) and comprises both completed work (gross fees billed) and incomplete unbilled work (accrued income).

Gross fees billed represent the amounts (excluding VAT) derived from the provision of completed work for clients during the year. In addition, the movement in accrued income and work in progress has been shown as turnover for the period.

Accrued income in respect of matters of a non-contingent nature is calculated based upon the value of work done but not billed at the year end. The value represents the time spent on matters in progress at the firm's billing rates, reduced to a realisable value.

The taxation payable on the partnership's profits is the personal liability of the members, although payment of such liabilities is administered by the partnership on behalf of its members. Consequently, neither partnership taxation nor related deferred taxation is accounted for in these financial statements. Sums set aside in respect of members' tax obligations are included in the balance sheet within loans and other debts due to members, or are set against amounts due from members as appropriate.

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment.

Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows: